Question 10
| Le | |
| sales | 220,000 |
| stock 1/1/05 | 60,000 |
| purchases | 180,000 |
| stock 31/12/05 | 70,000 |
| salaries and wages | 8,000 |
| Debtors | 16,000 |
| Transport | 6,000 |
| Rent | 5,000 |
Calculate (showing all workings) the: (a) gross profit (b) average stock (c) net profit
Theory